Who we are:
We are the New York Branch of a well-established foreign banking organization that engages in a broad spectrum of retail and corporate banking activity throughout Europe. Our highly productive team of U.S. professionals supplements core market activity by sourcing US dollar liquidity; and making investments in U.S. commercial and industrial loans via the syndicated loan market.
Who you are:
We seek a knowledgeable and detail-oriented Loan Trade Settlement Administrator primarily for secondary loan market trade settlement. The ideal candidate will have extensive Loan IQ knowledge (building deals, facilities and booking loans) along with Clearpar trade settlement experience.
What you'll do:
The Loan Trade Settlement Administrator:
- manages the closing process of primary and secondary market LSTA loan Purchases / Sales and ensures accurate execution and timely settlement of these transactions.
- oversees and maintains all Commitment facilities and their associated loans and fees.
- ensures that all transactions reflect the terms of the Credit Agreement and are processed in accordance with internal accounting policies.
JOB RESPONSIBILITIES:
- Booking and maintenance of loan facilities in Loan IQ including: monitoring borrowing status, new borrowings, rollovers, rate sets, conversions, repayments, prepayments, and booking and monitoring of fees.
- Review of Facility Input sheet for completeness and accuracy. A specific check is made for the following: OFAC check of customer, Closing Checklist and Risk Management Department authorization.
- Prepares/reviews, executes and tracks all loan trade documentation including confirmations and assignment agreements to ensure timely issuance of signed documentation.
- Coordinates and schedules the closing of the actual transfer of the loan to the counterparty or their representatives via Clearpar.
- Verifies pricing calculation prior to settlement of open trades.
- Calculates and advises the Accounting and Lending Departments of the gain/loss on sale transactions and the effect of delayed compensation, if any.
- Investigates and resolves any P&L discrepancies as advised by Accounting. Investigates and adjusts EIR Spikes and frozen EIR appearing on reports.
- Coordinates new customer opening in various systems.
- Reviews and initials wire transfers prior to disbursements.
- Assists with the daily reconciliation of open NOSTRO items relating to the loan portfolio.
- Records and reviews changes made to loan records in Loan IQ including rate changes on existing loans, new borrowings, rollovers, conversions, repayments, prepayments, and fees.
- Ensures that the loan files are maintained in accordance with internal policy.
- Prepares Loan Past Due report for review by the Head of Back Office Operations.
- Contributes to safety and soundness by participating in all compliance-related training.
What you bring:
KNOWLEDGE, SKILLS, AND ABILITIES:
- 5-7 years experience in loan administration.
- Basic accounting skills.
- Excellent PC skills (knowledge of Excel, Windows and Access) and Loan IQ.
What we offer:
Position Salary:
$100k-120k/ year
Effective 09/17/2023 NYC passed a Pay Transparency Law which requires NYC based hiring to include a compensation range on each job posting. This compensation range is presented in good faith for candidates that are hired in these roles will be presented a salary within the range stated on the job posting.
This company is committed to a diverse and inclusive workplace. We are an equal opportunity employer and do not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity, national origin, veteran or disability status.